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Bergen County adopts series of guarantee ordinances to back BCIA bond and note issues
Summary
The Bergen County Board of Commissioners adopted four ordinances authorizing county guarantees for pooled notes and revenue/lease-revenue bonds issued by the Bergen County Improvement Authority, committing the county to back up to specified aggregate principal amounts across several financing series.
The Bergen County Board of Commissioners on Tuesday adopted four guarantee ordinances authorizing the county to back borrowing by the Bergen County Improvement Authority (BCIA). The ordinances, adopted on second reading, secure pooled notes and revenue or lease-revenue bond issues in aggregate principal amounts that range from $250,000 to $61,000,000.
The measures were adopted as separate ordinances but were considered together during the meeting. Ordinance 25-14…
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